The meteoric growth of a new sector in the economy gives birth to a whole host of other sectors. Indian e-commerce is a great example of this. The rise of online commerce in India and other online marketplaces have fuelled the growth of another technology based startups. Supply chain logistics and big data analytics are great examples.
Artificial intelligence is another area which is less talked but a critical space where many startups have started making their presence felt. Stylumia is a good example. The startup offers artificial –intelligence-based solutions for e-commerce portals. It was founded by Anupama Pasumurthy. Explaining the reason behind the startup she says, “ It’s tough finding clothes (which are always too large) or shoes (which are too small) in my size, and I don’t find stuff that’s similar. I used to shop online but these days I just go to the store when I want to buy something,” the 22-year-old says.
Their target customers are online fashion retailers which are facing the same problem. It helps them get overcome this problem through artificial intelligence-based solutions for smart visual recommendations.
Stylumia is not the only company, there are a whole lot of companies at the global level that have proliferated in this space. iLenze and SnapShopr are other startups working on similar ideas. iLenze has also raised $500,000 funding. Chennai-based Mad Street Den has developed a visual recommendation engine.Flipkart is using the services of Singapore-based Visenze which caters to the similar needs.
Many visual search companies cater to multiple verticals and have so far concentrated on consumer applications. Ram Prakash, former CEO of Myntra and machine learning scientist along with Ganesh Subramanium developed Quillpad which helps consumers to take data-driven decisions.
“We are developing a technology which takes natural images, videos, be it Bollywood videos or TV serials, whatever influences fashion, and decipher and extract fashion elements from that,” says Prakash.
How the visual search engine works
“They look at the patterns and say this is doing well because this is a red color T-shirt with a contrast collar, what they cannot do right now is look at the same red color T-shirts with contrast collars which are not doing well. They do not have a way to see all the relevant data together. That’s another problem that we are trying to solve,” Prakash explains.
Making impact on businesses
Artificial intelligence will help you out in search and discovery. It may be possible that companies will be able to design and create a product only for your need. A whole new industry of personalized products will emerge. “Take that to healthcare: a very personalized medical and healthcare regiment for individuals based on their daily activities, their vitals, their Fitbit or Apple Watches. I think AI will be there helping us make decisions in the future pervasively.” Hodjat continues.